Home News FG Suspends 25% Penalty On  Smuggled Vehicles 
News

FG Suspends 25% Penalty On  Smuggled Vehicles 

Share
Share

NKECHI NAECHE-ESEZOBOR–The Nigeria Customs Service (NCS), on Friday, said the Federal Government through the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has approved the suspension of the 25 percent penalty previously imposed as surcharge on improperly imported vehicles

According to statement released by the National Public Relations Officer of the Service, Abdullahi Maiwada,  which reads: “The Nigeria Customs Service (NCS), under the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, has initiated a 90-day window, effective from 4th March 2024 to 5th July 2024, for the regularisation of import duties on specific categories of vehicles.

“To ease economic hardship and encourage compliance, the Honourable Minister and Coordinating Minister of the Economy have approved the suspension of the 25% penalty previously imposed in addition to import duty on improperly imported vehicles.

“Stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe.”




Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

UNIZIK Expels Student Over Assault On Lecturer

The authorities of the Nnamdi Azikiwe University, (NAU), on Friday expelled one...

NAFDAC Uncovers Massive Depot For Expired Drugs In Aba

The National Agency for Food and Drug Administration and Control (NAFDAC), on...

FG Urges Nigerians To Disregard Gambaryan Falsehoods 

The Federal Government on Friday debunked the claims by Binance’s Head of...

Edo Internal Revenue Service Seeks EFCC’s Support In Tackling Tax Evasion

The  Executive Chairman of Edo State Internal Revenue Service, Barrister Oladele Bankole-Balogun has...